Meanwhile, investors in Hong Kong digested an onslaught of blue chip earnings.
Both China's top footwear retailer, Belle International, and sportswear retailer Li & Fung lost 1 percent after posting weak 2012 net profit results.
Banks are in focus with two of China's 'Big 4' lenders reporting Tuesday, Bank of China and Agricultural Bank of China. Both stocks were lower by 0.3 and 0.7 percent ahead of results.
Seoul's benchmark crossed the 1,980 mark as new measures announced to boost economic growth overshadowed pessimism over Cyprus's bailout model.
President Park Geun-hye announced a $268 million investment plan late Monday to help resolve the problem of household debt, which has been hindering economic recovery.
The Kospi remains one of the few equity markets in the region that have fallen so far this year, down 1 percent compared with the Nikkei's 20 percent gain. Investors attribute the loss to sluggish economic growth and are hoping President Park's new measures will eventually translate into a rebound for the Kospi.
Growth-sensitive cyclicals led gains with techs and autos at the forefront. Hyundai Motor rallied 2.3 percent while SK Hynix added 1.5 percent.
Oz Miners Weigh
Australia's benchmark closed below the 5,000 mark for the fifth straight session, weighed down by resource stocks after metal prices fell overnight.
Atlas Iron and Mineral Deposits Limited slumped 5.5 percent each.
Mining stocks have suffered in recent sessions under lower iron ore prices. BHP Billiton and Rio Tinto are down over 2 percent in the past five days, but not all investors are pessimistic.
"If you look at the currency at 80 cents and iron ore prices around $80 a ton, you can still get share prices on BHP and Rio at $40 and $90 in the long run," said Greg Fraser, head of research at Kimber Capital on "Cash Flow."